Vietnam-EAEU trade to hit 10 billion USD by 2020

(VOVworld) – The Ministry of Industry and Trade held a conference in Ho Chi Minh City on Wednesday in a effort to boost Vietnam’s exports to the Eurasian Economic Union (EAEU).
Vietnam-EAEU trade to hit 10 billion USD by 2020 - ảnh 1
Deputy Minister of Industry and Trade Hoang Quoc Vuong chairs the conference.
(Photo: baocongthuong.com.vn)

The Ministry has enhanced publicity activities and trade promotions to help Vietnamese enterprises make full use of the free trade agreement between Vietnam and the EAEU, which took effect on October 5th. Participants at the conference were briefed on the union’s technical barriers, regulations on certificates of origin, and the tariff system.

The EAEU, comprising Russia, Belarus, Kazakhstan, Kyrgystan, and Armenia, provides a large market of 183 million consumers. Vietnam’s exports to the area account for only 1% of EAEU’s total imported goods, mainly electronic devices, footwear, coffee, tea, cashew nuts, and processed foods. Bilateral trade reached 3.6 billion USD in 2015.  

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